Cardano (ADA), currently occupying the ninth place for market capitalization, has recorded a significant development that can turn up future price trends. The coin broke out the golden cross on its hourly diagram, as the price jumped by more than 9% on the market.
The volume of the cardan is almost doubled as the pulse is built
ADA formed a golden cross at the last hour, since its short -term sliding average exceeded the long -term sliding average.
This is especially positive news for short -term traders, since the price has risen from $ 0.72 to the current levels.
According to CoinmarketCap, the price of Cardano passed into the hands of 0.7923 dollars in the last 24 hours. The coin grew from a minimum $ 0.7177 to reach its current level.
There was also a corresponding surge of trade. It increased by 98.87% during the same period to 1.78 billion dollars. Development signals the bull market for ADA.
Many consider the Golden Cross a bull signal, suggesting that ADA has a potential for a higher price impulse.
Interestingly, during the auction, ADA reached a maximum of $ 0.8162, which in the near future causes the expectation that the asset can break the level of 1 dollar in the near future. If the ADA turns this price, it can replace Dogecoin as assets that occupied the eighth rating in the top 10 for market capitalization.
Cardano circulation milestone supports the reliability of the network
At the same time, the development of the ADA is on the verge of impaired resistance levels in the amount of 0.80 US dollars, according to U.TODAY. Since the coin makes a bold return, it must break resistance and require support for the ecosystem to stay above it, because it looks at 1 dollar.
Meanwhile, the Cardano ecosystem recently reached the milestone as the second most distributed cryptocurrency. It was surpassed only Bitcoin, which also has a fixed supply. While Bitcoin is limited to 21 millionth composition, Cardano has 45 million.
